Industry
Harmonization efforts on the east coast have not gone unnoticed by regulators nationwide, with most provincial legislators carefully watching Insurance Act rewrites across the country in an effort for more standardized rules and regulations. Most recently, the regulatory sights have been set on the adjusting profession, delegates were told at the recently held 33rd Annual […]
By Lowell Conn | February 29, 2000
6 min read
The friendly bout gloves seem to have been removed in the latest acquisitional match of industry consolidation, namely the less-than-friendly bid made by listed Equisure Financial Network in the beginning of this year for its public-traded rival, Canada Brokerlink Inc. This was later followed by a friendly offer by Allianz Canada, a deal supported by […]
By Sean van Zyl, Editor | February 29, 2000
4 min read
Kingsway Financial Services Inc. (TSE: KFS) has announced a fourth quarter 1999 loss of 40 to 45 cents per share. The company expects to report a combined ratio of approximately 102% for fiscal 1999, a marked increase from 1998’s year-end 93.9%. Gross premiums written are on the rise, from 1998’s $409 million to $500 million […]
February 29, 2000
2 min read
Emerging technologies are having a great impact upon the insurance industry, in particular the adjusting field. One innovation that is leaving its mark on adjusting in particular is digital photography. Incorporating photos into insurance reports is critical to developing comprehensive case reports, and the advent of digital photography has meant adjusters are able to do […]
By Lorne Montgomery, Crawford Adjusters Canada | February 29, 2000
In a move that has escalated global primary company consolidation, CGU Group and Norwich Union announced they will merge their operations. The new company, CGNU, will form the UK’s largest insurance group and feature worldwide premium income and retail investment sales of 26 billion pounds. The deal, more accurately characterized as a CGU acquisition, is […]
Consumer suspicion of insurance companies has reached the point that it is now part of American pop culture to view them as commonplace in the U.S., as are awards of punitive damages.
By Bill Blakeney and Anil Varma | February 29, 2000
7 min read
There are a multitude of parallels between changes affecting the securities and insurance industries, notes 2000 Property & Casualty Joint Industry Forum keynote, Goldman, Sachs & Co. chief executive officer Henry Paulson Jr. “Globalization and technology are driving a whirlwind of change. Now more than ever, there are so many opportunities, in so many different […]
1 min read
Generally speaking, I am an optimist about the role technology plays in our society, but I am certainly not an unabashed enthusiast. I often find, as I deal with various service suppliers, especially call-centers, that the cutting edge is not so much a finely honed blade as a blunt cleaver in need of a good refurbishing.
By Laird Laundy, an independent insurance consultant | February 29, 2000
5 min read
Supplier of information products and software for the insurance, glass replacement and collision repair industries Mitchell International has announced it is being acquired by San Francisco-based equity firm Hellman & Friedman. The company was sold by previous owner The Thomson Corporation, which owned Mitchell since 1986. Terms of the deal have not been announced. “Mitchell […]
Jim Ball, president of the Insurance Brokers Association of Canada, has announced that board approval was received for the Association to join the World Federation of Insurance Intermediaries (WFII). The WFII is a non-profit federation that promotes the interests of insurance intermediaries world-wide. WFII was established on January 30, 1999 with the innaugral meeting in […]
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